Taylor Morrison Home Co. (NYSE:TMHC) Short Interest Down 17.0% in October

Taylor Morrison Home Co. (NYSE:TMHC) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 2,190,000 shares, a drop of 17.0% from the September 30th total of 2,640,000 shares. Currently, 2.2% of the company’s shares are short sold. Based on an average daily volume of 819,200 shares, the short-interest ratio is presently 2.7 days.

Taylor Morrison Home Stock Up 2.0 %

TMHC stock traded up $1.37 during midday trading on Monday, reaching $69.89. 817,879 shares of the company were exchanged, compared to its average volume of 792,281. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 6.24. Taylor Morrison Home has a 1-year low of $37.23 and a 1-year high of $71.95. The stock’s 50-day simple moving average is $67.58 and its 200 day simple moving average is $61.70. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 9.97 and a beta of 1.96.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.31. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. On average, equities analysts forecast that Taylor Morrison Home will post 8.27 earnings per share for the current year.

Hedge Funds Weigh In On Taylor Morrison Home

A number of institutional investors have recently modified their holdings of the business. Forum Financial Management LP increased its holdings in shares of Taylor Morrison Home by 3.9% in the 2nd quarter. Forum Financial Management LP now owns 4,430 shares of the construction company’s stock valued at $246,000 after acquiring an additional 165 shares during the period. Resonant Capital Advisors LLC increased its holdings in shares of Taylor Morrison Home by 2.1% in the 3rd quarter. Resonant Capital Advisors LLC now owns 9,103 shares of the construction company’s stock valued at $640,000 after acquiring an additional 191 shares during the period. TCW Group Inc. increased its holdings in shares of Taylor Morrison Home by 0.4% in the 2nd quarter. TCW Group Inc. now owns 52,193 shares of the construction company’s stock valued at $2,894,000 after acquiring an additional 213 shares during the period. Arizona State Retirement System increased its holdings in shares of Taylor Morrison Home by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 29,795 shares of the construction company’s stock valued at $1,652,000 after acquiring an additional 266 shares during the period. Finally, SummerHaven Investment Management LLC increased its holdings in shares of Taylor Morrison Home by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,831 shares of the construction company’s stock valued at $822,000 after acquiring an additional 267 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TMHC shares. Zelman & Associates raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research note on Monday, August 12th. StockNews.com raised shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a research note on Thursday. BTIG Research raised their price objective on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday. Barclays raised their price objective on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Wedbush upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $65.00 to $85.00 in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Taylor Morrison Home currently has an average rating of “Moderate Buy” and a consensus price target of $75.83.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.